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Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

That would a question for your accountant

May 31, 2016 09:47 PM
Rainmaker
2,220,654
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

If capital gain taxes are high, the investor will benefit from utilizing the 1031 Exchange.

May 30, 2016 11:06 PM
Rainmaker
1,617,916
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

make the call

Jun 10, 2017 07:13 AM
Ambassador
5,230,102
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Absolutely have your investors consult a CPA!

Jun 07, 2017 09:28 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Glad to see you added a pic to your profile Minnette Olsen !  The first port of call for me as an investor would be to discuss it with my CPA.  The agent should only be involved with the function of listing or finding a Buyer for the property.  A QI - Qualified Intermediary - is also essential - unless things have changed since I last was involved with one of these...

May 31, 2016 10:14 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Minnette Olsen - they know it well - believe me!

May 31, 2016 03:16 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You need to have them talk to an accountant.

May 31, 2016 09:08 AM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

1031 exchange (also called a like-kind exchange) is a swap of one investment asset for another. Benefits: no tax or limited tax due at the time of the exchange.

May 31, 2016 06:38 AM
Rainer
231,224
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

they must use a 1031 exchange expert. ( technically they dont) but being practical they do. the kicker is they can NEVER have control of the monies.IF they closed one deal in title and escrow and  had the proceeds transferred to another opened escrow , that is technically all that is required. but it will raise eyebrows. and seldom does it work out that you could do that

May 31, 2016 06:36 AM
Ambassador
3,383,334
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

By hiring a qualified intermediary to help them through the process of selling one home and identifying others where they can use their gain and delay paying taxes until the sale of the next investment property.

May 31, 2016 06:25 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Buy selling the old property and then buying a new property.

May 31, 2016 04:25 AM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Keep your hard-earned money out of the greedy hands of the Federal Government.

May 31, 2016 02:13 AM
Ambassador
5,049,450
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

They should first check with their tax professional

May 31, 2016 01:50 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

HOW can they?

By hiring someone who knows and has done a few 1031s.

Why do a 1031 may require other professionals.

This tool is available for those investors in a very specific situation. The right answer requires more information.

May 31, 2016 01:32 AM
Ambassador
6,393,494
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I don't know much other than it may be a good may to avoid or delay capital gains.

Nice to see you have your picture up now!

May 31, 2016 01:05 AM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Tax free deferred capital gain on investment property (

1031 tax code). You need to work thru 1031 company and title company same time and file a form with IRS. Nothing to it.

Minnette Olsen 

You are the lone student post your photo on AR Profile from Utah school which is giving us discomforts.  Your profile looks professional I think we can help you here.   Most of the questions have been asked before so you look under block next to RESOURCES. Best wishes on your license studies.

 

May 31, 2016 12:40 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

They cannot take advantage in our great land unless they qualify to take advantage of it pursuant to another country's laws.

May 31, 2016 12:30 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

By talking to their cpa or financial advisor.

May 30, 2016 11:28 PM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It may or not make sense. Check with an accountant to examine the possibilities. It can be a lifesaver!

May 30, 2016 11:23 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Minnette Olsen Deferring taxes is always a good investment tactic.

May 30, 2016 11:23 PM
Rainmaker
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

It's a tax-free way to relocate or upgrade your investment property.

May 30, 2016 11:06 PM